Sirple plan finterprises uses a periodic ivertory systemt its records shaned the folowing: ieventory, December 3 , using FiFO 62 Units 9.326=$1612 imentory, December 31, using UFO =62 Units 522=$1,364 Peaulred: 1. Compute the number and cost of goods evaiable for sale. the cour of ending inventory, and the cost of gosels sold under Firo and UFO 2. Compute the inventory turnower ratio under the fHFO and UFO ivereary costhg methods. 3. Doest the inventory method used meke a significant difterence is the hepestary lumever ratio? Complete this quastion by entering your answers in the tabs beiow. me tio. Simple Pian Enterprises uses a periodic inventory system. Its records showed the following Inventory, December 31, using FIFO 62 Units 6$26=$1,612 inventory, December 31, using LIFO 62 Units e$22=$1,364 Required: 1. Compute the number and cost of goods avallable for sale, the cost of ending inventory, and the cost of goods sold under FiFo and LIFO 2. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods. 3. Does the inventory method used make a significant difference in the inventory turnover ratio? Complete this question by entering your answers in the tabs below. Compute the inventory turnover ratio under the FIFO and LiFo inventory costing methods. (Round your answers to 2 decimal places.)